Techcheck Daily ICICI Bank holds its bullish channel: Emkay

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Techcheck Daily

ICICI Bank holds its bullish channel

n     Chart of the Day: ICICI Bank, the stock continues to trade within a bullish channel and takes support at the 55 DEMA, the stock should be an out performer from current levels, initial targets 1330-1350

n     Nifty short term trendline supports hold, expect the bounce to target 6110-6155 levels which are 50-61.8% retracement levels

n     Nifty medium targets get revised from 6450-6600 to 6340-6500

n     BSE Realty and BSE Metal among the weakest of the lot

n     Stocks with positive short term view:

n       ICICI Bank, Cipla, L&T, OMCs, Infosys

n     Stocks with negative short term view:

n     DLF, Unitech, Tisco, Hindalco, Sesa Goa